Mumbai: Reliance Power Ltd posted more than a three-fold increase in March quarter consolidated profit, helped by a 40% fall in tax expenses during the period.
The company, which is part of billionaire Anil Ambani’s Reliance Group, reported a consolidated profit of Rs216 crore for the quarter ended 31 March 2017, the company said.
Fourth-quarter consolidated revenue from operations stood little changed at Rs2,466 crore.
The company had posted a rise in its quarterly profit in three of the four quarters preceding March quarter, according to Thomson Reuters data. Reuters
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.